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BLG representing the Special Committee Of Nevsun Resources Ltd. in Zijin Mining Group’s C$1.86B take-over bid

On September 5, 2018, Nevsun and Zijin announced that the parties have entered into a definitive agreement pursuant to which Zijin will make a take-over bid to acquire all of the issued and outstanding shares of Nevsun for C$6.00 per share in cash (the Offer). The Offer is valued at C$1.86 billion (US$1.41 billion).

The cash consideration of C$6.00 per share represents a premium of 57% over Nevsun's unaffected closing price of C$3.82 on May 7, 2018, the day Lundin Mining Corporation ("Lundin") first publicly announced its intention to make a hostile bid to acquire Nevsun. In addition, the Offer is C$1.25 per Nevsun share, or 26 per cent, more than the C$4.75 per share hostile take-over bid for Nevsun launched by Lundin on July 26, 2018. The Offer is not subject to any financing conditions.

Nevsun's Board of Directors had previously rejected the hostile bid from Lundin on the grounds that it, among other reasons, ignored the fundamental value of Nevsun's assets. Following the launch by Lundin of its hostile bid, a special committee of Nevsun's independent directors (the Special Committee), with the assistance of Nevsun's advisors, initiated a review of all value-maximizing alternatives, including, but not limited to, an acquisition of all issued and outstanding Nevsun shares. This process has involved a number of global parties undertaking comprehensive due diligence on Nevsun. The Offer is a result of this full strategic alternative review process. Nevsun's Board of Directors and the Special Committee concluded that the Offer currently represents the best alternative available to Nevsun and provides Nevsun shareholders with the highest value proposition.

BLG is representing the Special Committee, with a team that includes Fred PletcherRandy MorphyStephen Robertson and Salvador Pimentel.

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